Shoppers will be out and about the next few days to make the most of the holiday deals, but buyers should be aware of return policies if a purchase doesn't go as planned.
A survey from nationalblackfriday.com showed that shoppers plan to spend over $900 this holiday season. Forty-three percent said they’ll likely cut back on their holiday shopping budgets because of inflation.
“Consumers definitely have inflation on their brain," said shopping expert Kristin McGrath. "They've been getting hit by it for the better part of two years now, and that really does factor into their holiday and Black Friday shopping strategies"
When it comes to shopping strategies, don't forget to check the return policies.
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"Online shopping is a big part of this and a lot of people love free shipping, but they're kind of abusing it," said Ted Rossman, senior industry analyst at Bankrate. "You know, some people are using their home as the dressing room, basically, and they're ordering like three or four of the same item, maybe different colors or different sizes."
Returns are now a significant and growing challenge for the entire retail sector, leading to changes.
"I'm seeing more retailers charging fees for returns, whether it's like a restocking fee or a shipping fee or something like that," Rossman said. "So I think it's important to be mindful of this, especially if you're going to return something or you think you might."
Also, when planning your holiday budget, don't forget about the smaller expenses that can add up, such as things like greeting cards, postage, and holiday parties – all this seasonal spending can impact what you can afford.
